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14.07.2021 22:15
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EXFO reports third quarter results for fiscal 2021
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PR Newswire
QUEBEC CITY, July 14, 2021
- Sales reached US$72.6 million
- Bookings attained US$87.0 million, book-to-bill ratio of 1.20
- IFRS net loss totaled US$3.7 million
- Adjusted EBITDA amounted to US$4.3 million
- Proxy circular forthcoming on board-approved, going-private transaction
QUEBEC CITY, July 14, 2021 /PRNewswire/ - EXFO Inc. (NASDAQ: EXFO) (TSX: EXF), the communications industry's test, monitoring and analytics experts, reported today financial results for the third quarter ended May 31, 2021.
"In the third quarter of 2021, EXFO delivered sales and adjusted EBITDA consistent with expectations while strong bookings were mainly driven by a recovery from the coronavirus pandemic and a good performance in EMEA," said EXFO's CEO Philippe Morin.
Third Quarter Highlights
- Sales. Sales improved 9.8% year-over-year in the third quarter of 2021 mainly due to increased spending on fiber deployments in the Americas and Europe, Middle East and Africa (EMEA) following a period of reduced investments caused by the coronavirus pandemic in 2020. Test and Measurement (T&M) sales grew 13.9% year-over-year in the third quarter of 2021, while Service Assurance, Systems and Services (SASS) sales dropped 9.6%. Sales in the Americas and EMEA increased 18.4% and 20.6% year-over-year, respectively, while sales in the Asia-Pacific region fell 23.8%. EXFO's top customer accounted for 5.6% of sales, while the top three represented 14.1%.
- Profitability. IFRS net loss totaled US$3.7 million, or -US$0.07 per share, in the third quarter of 2021, while adjusted EBITDA* amounted to US$4.3 million, or 5.9% of sales.
Selected Financial Information
(In thousands of US dollars)
| | | | | | | | | ||||
| | Three months | | Three months | | Nine months | | Nine months | ||||
| | | | | | | | | ||||
| Test and Measurement sales | $ | 57,295 | | $ | 50,309 | | $ | 159,045 | | $ | 143,733 |
| Service Assurance, Systems and Services sales | 14,780 | | 16,352 | | 53,391 | | 52,036 | ||||
| Foreign exchange losses on forward exchange | | | | | | | | ||||
| contracts | (569) | | (514) | | (974) | | (758) | ||||
| Total sales | $ | 72,644 | | $ | 66,147 | | $ | 213,410 | | $ | 195,011 |
| | | | | | | | | ||||
| Test and Measurement bookings | $ | 59,671 | | $ | 46,634 | | $ | 164,584 | | $ | 153,646 |
| Service Assurance, Systems and Services bookings | 26,766 | | 12,988 | | 69,840 | | 49,000 | ||||
| Foreign exchange losses on forward exchange | | | | | | | | ||||
| contracts | (569) | | (514) | | (974) | | (758) | ||||
| Total bookings | $ | 87,006 | | $ | 59,108 | | $ | 235,398 | | $ | 201,888 |
| Book-to-bill ratio (bookings/sales) | 1.20 | | 0.89 | | 1.10 | | 1.04 | ||||
| Gross margin before depreciation and amortization* | $ | 42,346 | | $ | 38,199 | | $ | 122,820 | | $ | 113,026 |
| | 58.3% | | 57.7% | | 57.6% | | 58.0% | ||||
| | | | | | | | | ||||
| Other selected information: | | | | | | | | ||||
| IFRS net earnings (loss) | $ | (3,682) | | $ | 3,177 | | $ | (2,567) | | $ | (5,907) |
| Amortization of intangible assets | $ | 1,774 | | $ Werbung Mehr Nachrichten zur EXFO Aktie kostenlos abonnieren
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